Labour Minister Bandaru Dattatreya told to the Parliament on 25th April 2016 that the Government has decided 8.7% interest for EPF for 2015-16, while the Board of Trustees of EPFO has recommended 8.8% interest.
The decision of the government reducing the interest rate proposed by the EPFO is condemnable. The government has no moral authority to reduce the interest rate of the hard earned money of the wage earners. This is one more instance of the anti-working class of the NDA government. This should be rescinded. All the 11 Central TUs, together and separately has opposed the government decision and demanded its roll back.
Strong protest should erupt through out the country.